Friday, January 26, 2018

The Gold Standard on Jeopardy

“The Gold Standard” was a category of questions on “Jeopardy” last night. The questions involved knowing what “fiat” money is, how the gold standard stifles inflation, and FDR’s thieving confiscation of privately-owned gold in the 1930s. (Citizens had to give up almost all their gold to the government at about $21/ounce or face a $10,000 fine and ten years in prison. The government then sold the gold for $35/ounce for a tidy profit).